NVIDIA Co. (NASDAQ:NVDA) Holdings Decreased by McGuire Investment Group LLC

McGuire Investment Group LLC reduced its stake in NVIDIA Co. (NASDAQ:NVDA) by 2.6% in the 3rd quarter, HoldingsChannel.com reports. The firm owned 387,687 shares of the computer hardware maker’s stock after selling 10,399 shares during the period. NVIDIA comprises about 6.6% of McGuire Investment Group LLC’s holdings, making the stock its biggest position. McGuire Investment Group LLC’s holdings in NVIDIA were worth $47,081,000 at the end of the most recent reporting period.

Other institutional investors also recently bought and sold shares of the company. JBR Co Financial Management Inc increased its stake in NVIDIA by 1.6% during the 3rd quarter. JBR Co Financial Management Inc now owns 197,534 shares of the computer hardware maker’s stock valued at $23,988,000 after purchasing an additional 3,180 shares in the last quarter. McGlone Suttner Wealth Management Inc. increased its position in shares of NVIDIA by 990.3% in the 3rd quarter. McGlone Suttner Wealth Management Inc. now owns 30,398 shares of the computer hardware maker’s stock valued at $3,692,000 after acquiring an additional 27,610 shares during the period. Koshinski Asset Management Inc. raised its stake in NVIDIA by 3.4% in the 3rd quarter. Koshinski Asset Management Inc. now owns 115,257 shares of the computer hardware maker’s stock worth $13,997,000 after acquiring an additional 3,800 shares during the last quarter. Johnson Bixby & Associates LLC lifted its position in NVIDIA by 10.2% during the 3rd quarter. Johnson Bixby & Associates LLC now owns 9,819 shares of the computer hardware maker’s stock worth $1,192,000 after acquiring an additional 909 shares during the period. Finally, Factory Mutual Insurance Co. grew its stake in NVIDIA by 2.8% during the 3rd quarter. Factory Mutual Insurance Co. now owns 3,106,048 shares of the computer hardware maker’s stock valued at $377,198,000 after purchasing an additional 85,048 shares during the last quarter. 65.27% of the stock is currently owned by institutional investors and hedge funds.

NVIDIA Trading Down 3.3 %

NASDAQ:NVDA opened at $141.98 on Friday. NVIDIA Co. has a 12-month low of $45.01 and a 12-month high of $149.77. The company has a debt-to-equity ratio of 0.15, a current ratio of 4.27 and a quick ratio of 3.79. The business has a 50 day simple moving average of $130.18 and a 200 day simple moving average of $119.70. The firm has a market capitalization of $3.48 trillion, a P/E ratio of 66.66, a P/E/G ratio of 1.54 and a beta of 1.66.

NVIDIA (NASDAQ:NVDA) last issued its quarterly earnings data on Wednesday, August 28th. The computer hardware maker reported $0.68 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.64 by $0.04. The business had revenue of $30.04 billion during the quarter, compared to analyst estimates of $28.74 billion. NVIDIA had a return on equity of 113.50% and a net margin of 55.04%. The business’s revenue for the quarter was up 122.4% compared to the same quarter last year. During the same period in the prior year, the company posted $0.25 EPS. Equities research analysts predict that NVIDIA Co. will post 2.66 EPS for the current year.

NVIDIA declared that its board has authorized a stock repurchase program on Wednesday, August 28th that permits the company to buyback $50.00 billion in outstanding shares. This buyback authorization permits the computer hardware maker to repurchase up to 1.6% of its stock through open market purchases. Stock buyback programs are often an indication that the company’s board believes its stock is undervalued.

NVIDIA Cuts Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, October 3rd. Stockholders of record on Thursday, September 12th were issued a $0.01 dividend. The ex-dividend date of this dividend was Thursday, September 12th. This represents a $0.04 annualized dividend and a dividend yield of 0.03%. NVIDIA’s dividend payout ratio (DPR) is 1.88%.

Insider Transactions at NVIDIA

In other news, CEO Jen Hsun Huang sold 120,000 shares of the business’s stock in a transaction on Tuesday, September 3rd. The stock was sold at an average price of $110.76, for a total transaction of $13,291,200.00. Following the sale, the chief executive officer now directly owns 76,375,705 shares of the company’s stock, valued at $8,459,373,085.80. The trade was a 0.16 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CFO Colette Kress sold 66,670 shares of the stock in a transaction on Friday, September 20th. The shares were sold at an average price of $116.59, for a total value of $7,773,055.30. Following the completion of the transaction, the chief financial officer now owns 4,954,214 shares of the company’s stock, valued at $577,611,810.26. This trade represents a 1.33 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 2,156,270 shares of company stock valued at $254,784,327 in the last quarter. Insiders own 4.23% of the company’s stock.

Analysts Set New Price Targets

A number of equities research analysts recently commented on the company. Wedbush reiterated an “outperform” rating and issued a $160.00 target price (up previously from $138.00) on shares of NVIDIA in a research report on Thursday. Truist Financial increased their price objective on shares of NVIDIA from $140.00 to $145.00 and gave the stock a “buy” rating in a research note on Tuesday, August 27th. Westpark Capital boosted their target price on shares of NVIDIA from $127.50 to $165.00 and gave the company a “buy” rating in a research report on Thursday, August 29th. Sanford C. Bernstein increased their price target on NVIDIA from $130.00 to $155.00 and gave the stock an “outperform” rating in a research report on Thursday, August 29th. Finally, Redburn Atlantic initiated coverage on NVIDIA in a report on Tuesday. They issued a “buy” rating and a $178.00 price objective for the company. Five equities research analysts have rated the stock with a hold rating, thirty-eight have assigned a buy rating and two have given a strong buy rating to the company’s stock. Based on data from MarketBeat, NVIDIA presently has an average rating of “Moderate Buy” and a consensus target price of $152.40.

About NVIDIA

NVIDIA Corporation provides graphics and compute and networking solutions in the United States, Taiwan, China, Hong Kong, and internationally. The Graphics segment offers GeForce GPUs for gaming and PCs, the GeForce NOW game streaming service and related infrastructure, and solutions for gaming platforms; Quadro/NVIDIA RTX GPUs for enterprise workstation graphics; virtual GPU or vGPU software for cloud-based visual and virtual computing; automotive platforms for infotainment systems; and Omniverse software for building and operating metaverse and 3D internet applications.